Quadruple Subsidies for Fossil Fuels

Posted on November 12, 2015

Reuters: "G20 members are spending $452 billion a year subsidising fossil fuel production - nearly four times global spending on renewable energy subsidies - despite pledging to phase out fossil fuel support to tackle climate change, a new report said on Thursday."

"'G20 governments are paying fossil fuel producers to undermine their own policies on climate change,' the ODI's Shelagh Whitley said in a statement."

"Despite calls by U.S. President Barack Obama to scrap fossil fuel subsidies, the world's largest economy spent more than $20 billion in national subsidies, the report said."